The bulker owner said its net loss was $1.77m, down from$10.67m in 2012.
Revenue was up at $24.96m from $18.75m, while costs were $22.31magainst $18.49m the year before.
After adding a panamax vessel this year, it said it was well-placedto have "higher efficiency in the event the dry bulk market recovers in full."
But it still expects 2014 to be adversely affected by the “currentchallenging economic conditions and uncertain outlook.”
